Quick Estimates of Index of Industrial Production and Use

Quick Estimates of Index of Industrial Production and Use-Based Index for the Month of February, 2015 (Base 2004-05=100)

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The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of February 2015 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation. IIP is compiled using data received from 16 source agencies viz. Department of Industrial Policy & Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum & Natural Gas; Office of Textile Commissioner; Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board.

2. The General Index for the month of February 2015 stands at 181.3, which is 5.0% higher as compared to the level in the month of February 2014. The cumulative growth for the period April-February 2014-15 over the corresponding period of the previous year stands at 2.8%.

3. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of February 2015 stand at 130.7, 192.9 and 166.0 respectively, with the corresponding growth rates of 2.5%, 5.2% and 5.9% as compared to February 2014 (Statement I). The cumulative growth in the three sectors during April-February 2014-15 over the corresponding period of 2013-14 has been 1.5%, 2.2% and 9.1% respectively.

4. In terms of industries, fifteen (15) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sec tor have shown positive growth during the month of February 2015 as compared to the corresponding month of the previous year (St atement II). The industry group ‘Wearing apparel; dressing and dyeing of fur’ has shown the highest positive growth of 62.0%, followed by 35.8% in ‘Electrical machinery and apparatus n.e.c.’ and 19.6% in ‘Wood and products of wood & cork except furniture; articles of straw & plating materials’. On the other hand, the industry group ‘Office, accounting & computing machinery’ has shown the highest negative growth of (-) 44.6%, followed by (-) 43.4% in ‘Radio, TV and communication equipment & apparatus’ and (-) 8.2% in ‘Other transport equipment’.

5. As per Use-based classification, the growth rates in February 2015 over February 2014 are 5.0% in Basic goods, 8.8% in Capital goods and 1.1% in Intermediate goods (Statement III). The Consumer durables and Consumer non-durables have recorded growth of (-) 3.4% and 10.7% respectively, with the overall growth in Consumer goods being 5.2%.

6. Some of the important items showing high positive growth during the current month over the same month in previous year include ‘H R Sheets’ (216.3%), ‘Leather Garments’ (151.8%), ‘Polythene bags including HDPE & LDPE bags’ (131.6%), ‘Cable, Rubber Insulated’ (63.5%), ‘Vitamins’ (60.5%), ‘Stainless/ alloy steel’ (57.0%), ‘Apparels’ (52.5%), ‘Conductor, Aluminium’ (48.5%), ‘PVC Pipes and Tubes’ (44.9%), ‘Block Board’ (34.2%), ‘Carbon Steel’ (27.4%) and ‘Air Conditioner (Room)’ (27.4%).

7. Some of the other important items showing high negative growth are: ‘Heat Exchangers’ [(-) 54.7%], ‘Electric Sheets’ [(-) 53.9%], ‘Telephone Instruments (incl. Mobile Phones & Accessories)’ [(-) 51.7%], ‘Computers’ [(-) 51.5%], ‘Furnace Oil’ [(-) 37.5%], ‘Ship Building & Repairs’ [(-) 34.8%], ‘Tractors (complete)’ [(-) 29.8%], ‘Boilers’ [(-) 28.8%], ‘Generator/ Alternator’ [(-) 28.7%] and ‘CR Sheets’ [(-) 21.7%].

8. However, growth rates in respect of individual items may not reflect their actual contribution in the overall growth rate of IIP. Taking into account the weights of different items, the overall growth rate of IIP can be decomposed into positive and negative contributions of different items. Such contributions of top five items with positive contribution and top five items with negative contribution are given below:

9. Along with the Quick Estimates of IIP for the month of February 2015, the indices for January 2015 have undergone the first revision and those for November 2014 have undergone the final revision in the light of the updated data received from the source agencies. It may be noted that these revised indices (first revision) in respect of January 2015 shall undergo final (second) revision along with the release of IIP for the month of April 2015.

10. Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of National Industrial Classification (NIC-2004) and by Use-based classification for the month of February 2015, along with the growth rates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed.

1.Release of the index for March 2015 will be on Tuesday, 12 May 2015.

STATEMENT I: INDEX OF INDUSTRIAL PRODUCTION - SECTORAL

(Base : 2004-05=100)